The business behind the dividend
| Measure | KG | Median | Formula |
|---|---|---|---|
| Return on equity | 36.4% | 10.6% | Net income ÷ shareholders’ equity |
| Return on capital employed | — | — | Operating income ÷ (equity + total debt) |
| Owner earnings | — | — | Net income + depreciation & amortisation − capital expenditure |
| Free cash flow | — | — | Operating cash flow − capital expenditure |
| Operating margin | — | — | Operating income ÷ revenue |
| Net margin | — | — | Net income ÷ revenue |
| Debt to equity | — | — | Total debt ÷ shareholders’ equity |
| Interest cover | — | — | Operating income ÷ interest expense |
| Current ratio | — | — | Current assets ÷ current liabilities |
| Long-term debt to working capital | — | — | Long-term debt ÷ (current assets − current liabilities) |
| Cash conversion | — | — | Operating cash flow ÷ net income |
| Accruals | 14.1% | -3.1% | (Net income − operating cash flow) ÷ total assets |
Not computed here: Cash conversion, Current ratio, Debt to equity, Long-term debt to working capital, Free cash flow, Interest cover, Owner earnings, Return on capital employed — why a blank is not a zero.
How it compares in banks & insurers
Among the 377 banks & insurers companies here measured on GAAP earnings, Kestrel Group pays out less than 19 of them. The median for that group is 30.6%, against this company’s 86.4%.
Closest on GAAP earnings
- CNA Financial (CNA) 81.9%
- Northwest Bancshares (NWBI) 87.0%
- LandBridge Co LLC (LB) 88.6%
- Fidelity National Financial (FNF) 91.4%
Same sector and same denominator, so the figures are comparable. All 377 in banks & insurers →